8.8A-307 - A-307. Purchaser's right to requisites for registration of transfer. - Virginia Statutes

§ 8.8A-307. Purchaser's right to requisites for registration of transfer.

Unless otherwise agreed, the transferor of a security on due demand shallsupply the purchaser with proof of authority to transfer or with any otherrequisite necessary to obtain registration of the transfer of the security,but if the transfer is not for value, a transferor need not comply unless thepurchaser pays the necessary expenses. If the transferor fails within areasonable time to comply with the demand, the purchaser may reject orrescind the transfer.

(1996, c. 216.)